Get Pima County Beneficiary Deed Form

Get a Deed Form or Prepare Your Own. You can buy a state-specific TOD deed form for your state or type up your own document. ... Name the Beneficiary. ... Describe the Property. ... Sign the Deed. ... Record the Deed.

For more than a decade, Arizona has sanctioned a type of deed that allows probate-free transfers of homes and other real estate at an owner's death. These one- or two-page documents, called beneficiary deeds, are fairly simple to prepare.

When a person dies, beneficiaries might learn that the decedent made a deed that conflicts with the specific wording in his will. Generally, a deed will override the will. However, which legal document prevails also depends on state property laws and whether the state has adopted the Uniform Probate Code.

Using a beneficiary deed may reduce or eliminate fees for probating the estate or managing a trust. Liens and loans. After a beneficiary deed is signed, grantors may still do what they want with the property, including selling it or mortgaging it.

The beneficiary deed does for real estate what the payable on death or POD designation does for a bank account. It allows the owner to designate a beneficiary for that asset and creates a method by which ownership of the asset will transfer directly to the beneficiary upon the owner's death.

A beneficiary deed allows for the avoidance of probate.Arizona allows for the transfer of real estate by affidavit if the equity of all the real property in the estate is not greater than $100,000.

A beneficiary deed is generally used for avoidance of probate, although it may be used to remove a particular property from a probate estate.

An Arizona beneficiary deed for works the same way as a TOD designation on a bank account. The owner simply designates someone to inherit the property when the owner dies. During the owner's life, the owner retains complete control over the property and can revoke the beneficiary designation.

Using a beneficiary deed may reduce or eliminate fees for probating the estate or managing a trust. Liens and loans. After a beneficiary deed is signed, grantors may still do what they want with the property, including selling it or mortgaging it.

First, the owner signs a new deed that states who she would like to inherit the real estate at her death. The new deed must be signed and recorded with the County Clerk and Recorder office in the county where the real estate is located.

A transfer on death deed allows you to retain full ownership during your lifetime and conveys your full interest to the Grantee upon your death. ... Ultimately, the decision between a life estate and transfer on death deed is dependent on why you want to transfer the property.

With a beneficiary deed, the beneficiary has no ownership interest in the property until the present owner dies. This means that the owner retains complete control of the property while he or she is living, and the beneficiary has no control over the property until the owner dies.